Shiba Inu Lead Developer Teases Game-Changing SHIB Burn Plan

Shiba Inu's lead developer, Shytoshi Kusama, has teased a groundbreaking plan to significantly reduce the circulating supply of SHIB tokens through an ambitious burn strategy. While this proposal—removing a large percentage of SHIB from circulation—might have seemed unattainable in the past, Kusama believes that it is now possible with the right strategy and collective efforts. His comments have stirred excitement among the Shiba Inu community, as he actively engages with them by inviting questions for his upcoming podcast. The prompt for questions read, “What topic or question would you like to hear answered on my podcast? #shyspeaks.”

Kusama’s podcast invitation set the stage for deeper discussions about the potential token burn. Fang Zhang, the Chief Financial Officer at LSP Finance, raised an important query regarding the practicality of executing such a large-scale burn. Specifically, Zhang asked for more details on how this burn would be implemented, including a timeline and roadmap. Kusama acknowledged the complexities involved in carrying out this ambitious burn but pointed out that, unlike in previous years, the collaboration of multiple projects might now make this goal achievable.

A Strategic Approach to Burn and Adoption

Kusama stressed that for such a burn to succeed, it is essential for Shiba Inu's technology to be adopted on a larger scale, particularly by major projects. He noted that the widespread use of Shiba Inu's tech stack is a crucial element in enabling this large-scale burn. However, Kusama also pointed out a potential challenge: as the burn accelerates, the value of SHIB could increase. If the token's price rises too quickly, it could make the burn process more expensive, slowing its progress. “If the burn rate picks up, people will rush to buy in anticipation of rising prices, which will, in turn, make it more costly to burn SHIB,” Kusama explained.

Despite the potential hurdles, Kusama emphasized that the success of this plan hinges not only on the volume of tokens burned but also on the intention behind the burn. “It’s not just about burning, it’s about the intention behind it,” he said. He also made it clear that burning tokens is not the only strategy to achieve Shiba Inu’s long-term goals. Enhancing the token’s utility—through innovations like staking and developing new use cases for other related tokens, such as BONE, LEASH, and TREAT—will also be key to the project’s success.

Creating Scarcity and Increasing Value

The overarching goal of the proposed burn is to create scarcity, which could potentially drive up the value of each SHIB token, assuming demand remains steady or increases. This shift could help transform SHIB from a meme token into a more valuable and sought-after asset. However, Kusama clarified that the burn process would not be a quick fix. Instead, it would unfold over several years and depend heavily on the widespread integration of Shiba Inu's technology.

SHIB’s Price Movement and Market Outlook

While Kusama’s burn strategy is long-term, SHIB is currently making an attempt to break through the 0.5 Fibonacci retracement level at $0.00002823. This level is derived from the token’s high in March at $0.00004567 and its local low in August of $0.00001067. If SHIB successfully breaks above this resistance level, it could target the 0.618 Fibonacci retracement level at $0.00003235 in the near future.

Conclusion

Shytoshi Kusama’s bold plan to burn a significant portion of SHIB’s circulating supply has generated a lot of buzz within the Shiba Inu community. While challenges remain, the proposal highlights Kusama’s long-term vision to elevate SHIB’s value through scarcity and broader adoption. With a focus on both the burn strategy and increasing SHIB’s utility, the Shiba Inu team is working towards transforming the meme token into a more valuable asset, potentially shaping the future of the token for years to come.